Lord Lawson of Blaby: My Lords, as one of the minority in your Lordships’ House who warmly welcomes the decision that the people made in the referendum, I also warmly welcome the statesmanlike Statement of the Prime Minister today, which my noble friend repeated. May I suggest, too, that the campaign is over and that we are now in a new phase, and that it would be no bad thing if the campaigning organisations on both sides should shut up shop? I speak as somebody who took a prominent part in one of them. What has happened was implicit in the Prime Minister’s speech: the people have spoken and it is now for the Government to implement wisely the decision of the people.
In that context, I welcome the Prime Minister’s decision to involve the brightest and the best in the Civil Service in charting the way ahead. I believe that there is a great way ahead. Nobody should be put off by financial market volatility—I knew quite a lot of that when I was Chancellor. Financial markets are by their nature volatile. What matters are the economic fundamentals, which are good now and can get even better if we pursue a sensible policy. I regret the fact that the Treasury for a moment morphed into the Office for Budget Responsibility but the Treasury can play a great part. I warmly welcome the approach that was charted in the Statement. Does my noble friend agree that the campaigning organisations should now shut up shop on both sides?